Tag Archives: TAB

Tabcorp calls off CEO search as board reviews all future options

Tabcorp Holdings has postponed its search for a new Chief Executive to replace David Attenborough, as its board undertakes a strategic review related to the firm’s future options.  Updating stakeholders, Tabcorp’s board confirmed that the company had reviewed a number of ‘unsolicited approaches’ to acquire the ASX firm’s TAB wagering unit. Tabcorp’s board has deemed the proposed valuation of TAB …

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Tabcorp points to recovery by delivering positive interim results 

Tabcorp Holdings has reported improved group trading, as the company’s lottery and wagering units hold-up against continued COVID-19 challenges. Publishing its 2020/2021 interim results (period ending 31 December), Tabcorp records a 1.5% decline in group revenues to AUS $2.87 billion. Tabcorp underscored its slight revenue decrease as a ‘positive outcome’ given the maintained growth of its ‘lottery and keno’ division …

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TAB chasing pack must clear regulatory hurdles

Suitors pursuing a break-up of Tabcorp Holdings’ wagering and media assets will have to clear a number of regulatory hurdles in order to complete a deal. As further parties declare their interests in bidding to acquire TAB, the Australian Competition and Consumer Commission (ACCC) has stated that it is ‘monitoring developments closely’ in a situation that will likely change the …

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Hot pursuit is on for Tabcorp shake-up

The board of Tabcorp Holdings is reportedly reviewing a number of individual offers and options from companies looking to acquire its TAB wagering and media units. Grabbing yesterday’s business headlines, FTSE100 Entain Plc revealed its interest to acquire TAB units and merge the heritage betting brand with its active Australian market portfolio.  Despite its public announcement, Entain chose not to …

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SIS takes greyhound content down under with Sportsbet deal

SIS takes greyhound content down under with Sportsbet deal

Sportsbet will strengthen its coverage of UK and Irish greyhound content after signing a new agreement with Sports Information Services (SIS).  The operator’s new greyhound offering will consist of up to 53 meetings per week from British tracks including Central Park, Crayford, Doncaster, Harlow, Henlow, Hove, Monmore, Romford, and Towcester as well as Irish action from Cork, Kilkenny, Limerick, Mullingar, …

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Tabcorp double burdened by covid and group impairment charges

Tabcorp Holdings has declared annual statutory operating losses of AUS $870m (€520m), as group performance was anchored by a combination of asset impairment charges and COVID-19 impacts recorded across its retail wagering portfolio.  Publishing its 2019/2020 financial results, the ASX-listed gambling group recorded a 5% decline in group revenues, falling to AUS $5.22bn (FY2018/19: $5.44bn), with the company absorbing double-digit …

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Melbourne spike sees Tabcorp close TAB Victoria betting shops

Tabcorp Holdings has been forced to close a significant number of TAB betting shops and agents across Victoria, after State Premier Daniel Andrews enforced a further coronavirus lockdown. On Monday, following a spike of more than 200 new cases in the district area of Melbourne, the Victoria government issued a border closure between Victoria and New South Wales – Australia’s …

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TAB urges punters to ‘spend local’ in support of Australian racing

Tabcorp Holdings’ flagship sportsbook property TAB has launched its new “Back the Industry” campaign, urging punters and businesses to support Australian racing during the ongoing COVID-19 crisis. Despite all Australian professional sports leagues postponing their imminent 2020 schedules, Australian horse and greyhound racing remain as the last organised sports still operating during the Australian COVID-19 lockdown, maintaining all meetings behind …

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Tabcorp enlargement struggles test investor patience

Australia ASX-listed gambling group Tabcorp Holdings Plc has posted an underwhelming corporate performance, publishing its half-year 2019 trading results (six-month period ending 31 December 2019). Despite recording a 4% increase in corporate revenues to AUS 2.9 billion, Tabcorp results detailed a number of concerns for investors as it delivered a further quarter trading performance below market expectations. Tabcorp’s group performance …

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Tabcorp eyes unifying Australian Tote systems in 2020

Continuing its corporate transformation programme, the governance of Tabcorp Holdings has confirmed that it plans to launch a ‘single tote pool’ product for Australia. Tabcorp confirmed to The Sydney Morning Herald (SMH) its 2020 ambitions to merge all three separate tote systems into a single totalizer pool, sharing punter liquidity across all Australian states. Marked as a major project for …

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